Thursday 19th March 2020 - Ampleforth, a new digital asset with an elastic supply policy (called Amples or AMPLs) is now available for trading on DeversiFi against USDT. Read on and learn about AMPL as well important information about funds locked in DeversiFi during each daily rebase period.
DeversiFi traders can now trade AMPL tokens directly from the security of their private wallets whilst accessing the best prices, fast speeds and deeply liquid order books. Traders simply need to lock AMPL or USDT tokens in the DeversiFi smart contract and begin trading.
“Ampleforth is a fundamental economic experiment which would only be possible on a blockchain. DeversiFi’s goal is to give our customers access to exactly these sorts of unique opportunities so that they can profit from the explosive growth of DeFi.” - Will Harborne, Co-founder and CEO of DeversiFi said.
Ampleforth is synthetic commodity money. The Ampleforth Protocol always seeks a price-supply equilibrium, and will automatically enter a state of unrest until it finds one. If the daily average trade-weighted price of AMPL tokens deviates from the CPI (Consumer Price Index) adjusted price of one USD, then the global supply of AMPL tokens changes, placing pressure on price. The Ampleforth Protocol aims to replace global money in the long run and in the short run acts as an uncorrelated asset for crypto portfolio diversification, and during times of increased volatility/uncertainty.
About DeversiFi and DeversiFi 2.0
DeversiFi aims to be the most complete non-custodial trading platform. The current DeversiFi 1.0 platform allows traders to trade directly from the security of their private wallets, whilst facing deep aggregated liquidity. Traders are always in control of their crypto assets as each trade is settled on-chain, removing exchange and counterparty risk.
Launching in April 2020 in conjunction with StarkWare ZK-Rollups, DeversiFI 2.0 will offer traders all the benefits of DeversiFI 1.0, but also allowing for 9000+ trades-per-second, completely private trading and low fees, all whilst ensuring they stay in control of their assets at all times. DeversiFi 2.0 will be the first complete and compromise-free non-custodial trading platform for professional traders.
What is the daily AMPL rebase window and how are AMPL/USDT orders handled during it?
The Ampleforth network employs an elastic supply protocol that reduces or expands the amount of AMPL tokens in each wallet holding AMPL tokens once per day at approximately 2:00 AM UTC.
The amount of the positive or negative rebase depends on how far the 24 hour trade weighted oracle price of AMPL tokens has deviated from CPI adjusted price of one USD. More information is available concerning the daily rebase and is displayed on the Ampleforth Dashboard
DeversiFi is unique insofar as the exchange aggregates both centralised and decentralised liquidity. Therefore during the Ampleforth rebase period, orders will be treated in the following way:
During the period 1:59 AM UTC to 2:30 AM UTC:
- AMPL/USDT trading will be paused. Open (active) AMPL/USDT orders will not be able to be cancelled until the end of the period and no new orders will be permitted
- AMPL deposits/locks and withdrawals/unlocks are still available via the UI up to the amount of AMPLs the traders does not have committed in open orders
- After the rebase at c. 2.00 AM UTC, if a negative rebase (downward adjustment in a trader’s balance) occurs that results in the trader not having enough AMPL tokens locked in the DeversiFi smart contract to cover the entire amount of their orders, then their orders are partially reduced to the point the sum of the new orders matches the amount of their AMPL tokens locked.
For more information, see the DeversiFi AMPL Knowledge Base Article or head to our Telegram community to share your questions.
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